Antigua and Barbuda (AG)

Jurisdiction Overview

IDQuestionAnswer
206 *Is any formal registration required at all? NEITHER: Neither domestic law trusts nor foreign law trusts domestically managed have to register.
 Data Date: 2018

Notes

 
Only trusts involved in economic activity are required to register. According to the FATF: "There is no obligation for ordinary trusts or foreign trusts (defined as trusts which are governed by the law of a jurisdiction other than Antigua and Barbuda) to be registered in Antigua and Barbuda. However, ordinary trusts that operate a company, business, trade, profession or service involved in economic activity in Antigua and Barbuda must register with the Commissioner of Inland Revenue for income tax purposes" (FATF 2018: 175). The 2017 amendments on filing a beneficial ownership amendment refer to trust corporations, but not to trusts.
 
In 2014, the Global Forum reported: "There is no obligation for ordinary trusts or foreign trusts to be registered in Antigua and Barbuda. However,[...] ordinary trusts that operate a company, business, trade, profession or service involved in economic activity in Antigua and Barbuda must register with the Commissioner of Inland Revenue for income tax purposes (GF 2014: 40). In addition, "an international trust must be registered pursuant to Section 17 of the ITA [International Trust Act]. At the point of registration international trusts must submit information on the trust name, name and address of all trustees and protectors. This registration requirement also applies to foreign trusts which subsequently change their governing law to Antigua and Barbuda law. Upon registration such foreign trusts become international trusts and are subject to the regulations of the ITA" (ibid.: 41 [TJN- note]).

Sources

https://abipco.gov.ag/wp-content/uploads/2017/07/Law-miscellaneous-Amendments-No.2-Act-2017.pdf
 
GF 2011: 29-30; GF 2014: 40-41
 
FATF 2018: 175-177